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OK Zimbabwe earmarks 50% of capital raise to clear debts
Retail giant OK Zimbabwe Limited has announced plans to allocate more than half of the proceeds from its planned US$30.5 million capital raise - through a rights issue and property disposals - toward ...Published: 30 Jun 2025 at 13:12hrs | 174 | by Staff reporter
Herbert Nkala to exit OK Zimbabwe in restructuring move
OK Zimbabwe has announced a major leadership reshuffle and a US$30.5 million capital-raising initiative aimed at stabilising operations and restoring market confidence, as the retail giant battles int...Published: 29 Jun 2025 at 11:17hrs | 215 | by Staff reporter
EcoCash overturns loss into profit
EcoCash Holdings Zimbabwe Limited (EHZL), a FINTECH company, successfully transformed its financial performance, turning a loss into a profit of ZWL$130.19 million after tax for the half-year ending A...Published: 13 Nov 2023 at 05:47hrs | 14 | by Staff reporter
Econet, EcoCash announce rights offer
LISTED telecoms firm Econet Wireless Zimbabwe Limited (EWZL) and its subsidiary EcoCash Holdings yesterday announced a renounceable rights issue to raise US$30,3 million for the redemption of existing...Published: 25 Jul 2023 at 08:23hrs | 5 | by Staff reporter
Zimbabwe sugar estates to be sold to Tanzania's Kagera Sugar
South Africa's Tongaat Hulett is to sell its sugar estates, including those in Zimbabwe, to Kagera Sugar, one of East Africa's largest sugar producers.This is part of a plan to rescue Tongaat ...Published: 21 Jul 2023 at 18:23hrs | 4 | by Staff reporter
Econet upgrades 70% of Bulawayo base station sites
LEADING telecoms company, Econet Wireless Zimbabwe upgraded 70 percent base station sites in Bulawayo in the period ending 31 May as it also plans to upgrade the radio network in Bulawayo and other ci...Published: 19 Jul 2023 at 06:39hrs | 2 | by Staff reporter
EcoCash posts $4,76bn loss
ECOCASH Holdings Zimbabwe Limited (EHZL) has posted a $4,76 billion loss for its financial year ended February 28, 2023 owing to monetary exchange losses worth $30,1 billion linked to its failure to r...Published: 02 Jun 2023 at 06:44hrs | 2 | by Staff reporter
Mnangagwa's govt urged urged to respect people's rights
DISPLACEMENT of villagers from their ancestral land to pave way for corporate activities is increasingly becoming one of the major human rights violations in the country, the Zimbabwe Human Rights Ass...Published: 21 Sep 2021 at 21:29hrs | 12 | by Staff reporter
Currency changes choke banks
ZIMBABWE'S banking sector is skating on thin ice due to a illiquidity crunch that has drastically reduced the financial institutions' capacity to lend following the reintroduction of a local currency,...Published: 25 Aug 2019 at 18:51hrs | 1 | by Staff reporter
SB Moyo was a Director at Africom & Fernhaven before the NSSA loan
There has been lots of talk around the NSSA loan and how Africom was involved as their army boss now minister Sibusiso B Moyo and husband to ZACC chairperson, was both director at Africom and Fernhave...Published: 14 Aug 2019 at 21:51hrs | 5 | by Staff reporter
Shareholders approve Cassava demerger, separate listing
SHAREHOLDERS of Econet Wireless have approved the demerger of Cassava SmarTech from Econet Wireless Zimbabwe Limited, paving the way for the listing of a new diversified technology business called Cas...Published: 03 Dec 2018 at 07:19hrs | 1 | by Staff reporter
Econet welcomes Mnangagwa's approach
Econet Wireless Zimbabwe said it welcomes the approach ushered in by the President Emmerson Mnangagwa government to focus on driving investment in the economy as an enabler to economic growth and job ...Published: 30 May 2018 at 16:40hrs | | by Staff reporter
'Econet revenue to drop 8.9%'
ECONET Wireless Zimbabwe's revenue is set to tumble 8,9% year-on-year to $584 million in 2017 before waning further in 2018 on the back of economic headwinds and regulatory interventions, stockbrokers...Published: 03 May 2017 at 06:51hrs | | by Staff reporter
Econet pulls no punches
SEETHING mobile telecommunications company Econet Wireless Zimbabwe (EWZ) said last week its competitors NetOne and TelOne have since accrued more than US$25 million in unpaid interconnection fees...Published: 11 Feb 2017 at 22:42hrs | 2 | by Staff reporter
Controversy rocks Econet meeting
THERE was drama at Econet Wireless Zimbabwe's extraordinary general meeting (EGM) when state-run National Social Security Authority (Nssa), together with other shareholders and proxies, took the m...Published: 11 Feb 2017 at 14:32hrs | | by Staff reporter
Chirume faces ZSE chop, sent on forced leave
ALBAN Chirume, the chief executive officer (CEO) of the Zimbabwe Stock Exchange (ZSE), who was suspended this week for sanctioning a listed entity's cash call, despite reservations from the listing co...Published: 09 Feb 2017 at 05:37hrs | 1 | by Staff reporter
ZSE sent CEO on leave over Econet saga
The Zimbabwe Stock Exchange (ZSE) yesterday sent its CEO Alban Chirume on an indefinite leave to pave way for investigations after Econet Wireless Zimbabwe disregarded a directive from the regulat...Published: 07 Feb 2017 at 09:32hrs | | by Staff reporter
ZSE plots to crack whip on defiant Econet
The Zimbabwe Stock Exchange (ZSE) will meet today to deliberate on what action to take after Econet Wireless Zimbabwe defied the regulator by going ahead with its extraordinary general meeting (EG...Published: 06 Feb 2017 at 09:11hrs | | by Staff reporter
Econet shareholders approve rights issue
ECONET Wireless Zimbabwe shareholders last Friday passed all six resolutions relating to its proposed $130 million capital raise exercise after it proceeded with its extraordinary general meeting ...Published: 06 Feb 2017 at 05:36hrs | 1 | by Staff reporter
Econet EGM going ahead despite
Econet Wireless Zimbabwe has set itself up for a fight with the Zimbabwe Stock Exchange after it said its extra-ordinary general meeting set for tomorrow will proceed as planned. ...Published: 02 Feb 2017 at 09:41hrs | | by Staff reporter
Econet loses 400 000 subscribers
Over 400 000 subscribers deserted Econet Wireless Zimbabwe between July and September last year, latest Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) statistics have indicate...Published: 02 Feb 2017 at 06:18hrs | | by Staff reporter
Storm over Econet $130 million rights offer
Pension funds say the $130 million rights issue by Econet Wireless Zimbabwe will dilute their shareholding, as they cannot follow their rights, warning the exercise will impoverish pensioners and ...Published: 02 Feb 2017 at 05:51hrs | 1 | by Staff reporter
Econet shareholders lose $100 million in 10 days
Econet Wireless Zimbabwe stockholders have lost over $100 million in shareholder value in 10 days due to selling pressure ahead of a capital raising initiative which is set to dilute minorities....Published: 29 Jan 2017 at 09:27hrs | | by Staff reporter
Econet summoned over contentious issues
THE Zimbabwe Stock Exchange (ZSE) on Tuesday summoned mobile network operator Econet Wireless Zimbabwe over contentious issues in its US$130 million rights offer after the country's capital market...Published: 27 Jan 2017 at 12:06hrs | 3 | by Staff reporter
Econet Zimbabwe share prices tumble 10%
ECONET Wireless Zimbabwe shares tumbled 10 percent to 27 cents on Thursday amid panic selling by small shareholders, over concerns surrounding the telecoms company's planned rights issue to raise ...Published: 23 Jan 2017 at 05:49hrs | | by Staff reporter
Econet in controversial $130m rights issue
ECONET Wireless Zimbabwe is planning to raise $130 million through a controversial rights offer and linked debentures in order to service its foreign debt. In a circular released yesterday, Econet...Published: 18 Jan 2017 at 06:01hrs | | by Staff reporter
Brainworks in $35 million capital raise
Local investment holding firm Brainworks Capital Management has 'successfully' raised $35 million following the closure of a capital raise last week. The proceeds will be used to strengthen va...Published: 30 Mar 2015 at 07:23hrs | 1 | by Staff reporter
Brainworks withdraws $20m Telecel offer after rights offer close
Brainworks Capital Management has withdrawn the offer that it had made to Empowerment Corporation to purchase its 40 percent shareholding in Telecel Zimbabwe three days after closing on its fully unde...Published: 27 Mar 2015 at 07:27hrs | | by Staff reporter
AfrAsia Zimbabwe Limited raises $20 million
AFRASIA Zimbabwe Limited has completed the first phase of the $100 million recapitalisation exercise of its banking unit.The initial phase of the recapitalisation exercise involves raising $20...Published: 31 Dec 2013 at 01:44hrs | 1 | by Staff Reporter
AfrAsia shareholders endorse Nigel Chanakira's exit
Shareholders in AfrAsia Kingdom Zimbabwe Limited (AKZL), the parent company of Kingdom Bank, on Friday voted for the repurchase of shares indirectly held by an investment vehicle linked to Nigel C...Published: 01 Dec 2013 at 08:20hrs | | by Business reporter
SA's Royal Bafokeng Nation eyes Trust Bank
TRUST HOLDINGS is on the verge of concluding a placement with a South African firm MOGS to raise $20 million to comply with minimum capital requirements and enhance liquidity in its banking unit. ...Published: 07 Nov 2013 at 02:43hrs | 1 | by Staff reporter
Metbank has 'no interest in Interfresh'
Metbank does not intend to keep its recently acquired 32 percent stake in citrus business company Interfresh Ltd as plans are under way to offload the stake to a strategic partner, a senior bank execu...Published: 15 Sep 2013 at 04:55hrs | | by Staff Reporter
FBC to surrender building society licence
Listed financial services group FBC Holdings, faced with the possibility of failing to meet new minimum capital requirements by 30 June, plans to surrender its FBC Building Society licence to regulato...Published: 07 Jun 2013 at 04:02hrs | 1 | by Business Reporter
Steelnet placed under final liquidation
STEELNET Zimbabwe has been placed under final liquidation and the liquidator has invited tenders from interested parties to purchase operating assets.Steelnet liquidator Mr Christopher Maswi ...Published: 29 May 2013 at 05:49hrs | 1 | by Mafu sithabile
ZSE:- Industrials rebounds on gains in Econet
Industrials rebounded on Thursday largely on gains in telecoms counter Econet as most heavyweights traded unchanged in a session where only 3 counters managed losses.Daily market turnover impr...Published: 14 Feb 2013 at 10:16hrs | | by Business reporter
ZSE:- Industrials slides again as profit taking weighs off recent gains
Industrials slid again on Thursday as investors continued to recoup profits in selected counters that recorded significant gains over the past 5 weeks.The Mini...Published: 07 Feb 2013 at 10:32hrs | 1 | by Business reporter
Afre shareholders approve $8.631mn capital raising, removal of 3 directors
Afre shareholders approved the raising of $8.631 million through a rights issue, and the removal of 3 directors with 99% voting in favour of the 5 resolutions at an EGM held this morning.The ...Published: 26 Oct 2012 at 09:15hrs | | by Business reporter
Aico Africa moots business recapitalision through demerger
Aico Africa is currently undertaking a series of transactions which will result in all its SBUs being adequately capitalised through a possible demerger of the SBUs, chairman Bekithemba Nkomo told th...Published: 31 Aug 2012 at 05:31hrs | | by Business reporter
Zimbabwe Stock Exchange Overview - June 2012
Fortune favours the brave.... Recovery on course although beleaguered somewhat by unfavourable atmosphere..Four years on in a dollarised economic en...Published: 08 Jun 2012 at 05:20hrs | 1 | by Imara Stockbrokers
BancABC embarks on a rights offer to raise P356 million
African Banking Corporation Holdings (ABCH) intends to embark on a Rights Offer in which it seeks to raise BWP 356,666,666 (approximately US$ 50.0m) and offers 83,333,333 shares at a price of BWP 4.28...Published: 08 May 2012 at 06:31hrs | 1 | by Business reporter
Ndlovu takes over at RioZim
Rio Zimbabwe Limited (RioZim) has appointed Ashton Ndlovu, a former chairman of KW Blasting, as new managing director to replace long-serving Josphat Sachikonye, who stepped down last month.R...Published: 20 Apr 2012 at 07:47hrs | 3 | by Nare Msupatsila
Econet to divorce EcoLife
The Herald reports that Econet Wireless Zimbabwe is contemplating turning over its mobile phone-based life assurance product, EcoLife, to First Mutual Limited.That decision was taken after the...Published: 06 Oct 2011 at 04:55hrs | 1 | by Staff reporter
Muponda to attend Interfin AGM, fireworks expected
Gilbert Muponda is expected to attend the Interfin Financial Services (IFS) Ltd's annual general meeting slated for next Wednesday.This is now the most anticipated AGM as it is billed to be ex...Published: 26 Aug 2011 at 14:07hrs | | by Staff reporter
Meikles Limited Interim Management Statement
Interim Management Statement and results of the 74th Annual General Meeting and Extra-ordinary General Meeting of 18 August 2011The attainment of full indigenisation status and the raising of...Published: 20 Aug 2011 at 05:56hrs | | by Mafu Sithabile
Kingdom Bank funded income grows by 283 percent
Kingdom released a fair set of interim results showing a 51% year on year growth in attributable earnings to $2.3 million. Earnings growth was driven by the 283% growth in funded income on the back of...Published: 15 Aug 2011 at 09:20hrs | | by Nare Msupatsila
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